RPA Tenant Rights Blog » Frustrated Landlord » Late fees and security deposit

Late fees and security deposit

By miles

Hello,

I am a landlord in Colorado. We have a renter who signed a 6 mth lease and has been late every month since signing the lease. He has basically paid us in installments each month as he had money to do so. So there are many days of late fees. The lease states $5.00 per day for late fees, which he signed and agreed to.

INstead of evicting tenant for violating the lease we have allowed him to stay until his lease is over, this month.

He is now asking for his $300.00 deposit back. Can we deduct late fees which he hasn’t paid from his deposit?

Thank you for any assistance,

Miles

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Edited on: Friday, January 28th, 2011 7:11 am
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2 Responses to “Late fees and security deposit”

My response: (We welcome stories, examples, explanations, answers and a touch of your personality)
 

Ken

July 1st, 2011 7:03 am

Normally the lease agreement will provide that any amounts due under the terms of the lease can be collected from the security deposit if not paid by the tenant by other means. If not, I rather doubt that any judge (were it to go that far) would disallow the fees that you are charging. BTW, to me the fees you charge are VERY low. Both the late fee and the deposit.

RichW

November 4th, 2012 2:59 pm

Hi Miles,

I am interested to find out how you resolved the issue you had with a tenant back in January 2011. The reason being is that I am in the early stages of developing a web based property management application that automates the landlord and tenant legal obligations and other key services for the lifespan of a tenancy. The website will administer rent payments and tenant deposits and will remove any ambiguity as to what the law states on issues such as late rent.

If this is something that interests you I would like to send you some questionnaires to help with my research.

Best Regards
Richard

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